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Pending Approval, what does this mean?

Discussion in 'Chase Mortgage - Tell Us Your Chase Story' started by Roman G, May 7, 2010.

  1. Roman G

    Roman G LoanSafe Member

    After calling the regular customer service line, and being told no update, I called loss mitigation dept, and told they don't handle the file it's in the bankruptcy dept/or legal dept, and told I might try the bank dept. I called the bank dept and was told my mod was pending final approval and to call the bankruptcy dept to see when I can expect to receive my final paperwork, so I called them and they said they have no date that it's just pending final approval.
    Now keep in mind I am way past the point of getting excited about anything other than waking up in the morning.
    I emailed both of these guys on the 3rd:
    I got a call back the next day from the executive office from someone named Dane and was basically informed that we don't qualify because we make to much:(, but told him I would still like the application for a mod to go through to see what happens. I also emailed david.b.lowman@jpmchase.com again on the 5th. I have also called once a day, most of the time more than once for the past month.
    So what the hell does all this mean, are they just BS'ing me or what, anyone have any experience with this.
    Thanks for the help.
  2. Jillian118

    Jillian118 LoanSafe Member

    So they are saying that your mortgage is already 31% of your income?
  3. Roman G

    Roman G LoanSafe Member

    Yes that is what they are saying!
  4. snapple candy

    snapple candy LoanSafe Member


    What is 31% of your gross? Are you self-employed? Being self-employed seems to be problematic with Chase with determining your income.

    You didnt say how long you have been going thru this process. Under review often goes on for months at a time...once you get past 60 days, i would start turning up the heat.
  5. Roman G

    Roman G LoanSafe Member

    I guess I don't understand the question?
    My wife works I got unemployment. She grosses 3200 and they don't include unemployment, our payment is 784, just P&I with T&A it would be close to 1000.
    We have a second but have not heard a thing from anyone for more than 2years, so will deal with that when it comes up.
    Chase is 121,000 owed, a government home improvement loan for 25,000 that is no interest no payment until house is refied or sold. House across the street just sold that is smaller SF and a way smaller yard, for 169,000, so I know we are not upside down, and I know we make the payment, but we got behind because of some medical reason for me and then unemployment shortly after.
    I am just really wanting to know what pending approval means.
    Oh and my paperwork got sent off at the end of Jan. this year. And by the way I don't think I can turn the heat up anymore than I already have!
    Thanks for the response as well!
  6. Jillian118

    Jillian118 LoanSafe Member

    Well, I will be interested to hear what they say. Usually when we see someone who is with target range of 31% and not upside down, it usually doesn't come out good as they don't typically care about other debts.

    But you do have a hardship due to the medical stuff, so like I said, I will be curious to see what they offer you.

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